1.4 stakeholders

Question 1

what are stakeholders?

Answer 1

individuals, businesses, or groups with an interest in activities and outcomes of an organization.

Question 2

what are the two groups of stakeholders

Answer 2

internal stakeholders and external stakeholders

Question 3

what are internal stakeholders?

Answer 3

individuals who are part of the organization. example: employees, owners, managers, shareholders

Question 4

what are external stakeholders?

Answer 4

people or organizations not part of the business but with direct interest in its decisions, actions, and performance. example: suppliers, costumers, banks, lenders, local community, the media, government, pressure groups

Question 5

what are pressure groups?

Answer 5

individuals with a common interest who seek to place demands on organizations to act in a particular way or to influence a change in their behavior

Question 6

what is sustainability?

Answer 6

ability of current generations to meet its need without compromising this ability in future generations

Question 7

what is stakeholder conflict?

Answer 7

occur when the businesss cannot satisfy the interests or aims of different stakeholders at the same time. example: costumers want lover prices but shareholders want higher profits

Question 8

what is stake holder analysis mapping?

Answer 8

it helps manage conflicts, they divide stakeholders based on their power and interest.